Facebook parent Meta slashes another 10,000 jobs, wont fill 5,000 open roles
READ MORE: Meta will pay $725M to settle Facebook user privacy lawsuit
This will be tough and theres no way around that, said CEO Mark Zuckerberg. It will mean saying goodbye to talented and passionate colleagues who have been part of our success.
The Menlo Park, California, company has invested billions of dollars to realign its focus on the metaverse. In February it posted lower fourth-quarter profit and revenue, hurt by a downturn in the online advertising market and competition from rivals such as TikTok.
The company announced 11,000 job cuts in November.
As Ive talked about efficiency this year, Ive said that part of our work will involve removing jobs and that will be in service of both building a leaner, more technical company and improving our business performance to enable our long term vision, said Zuckerberg.
In early trading, Meta shares rose 6 percent.
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FILE PHOTO: A smartphone with Facebook's logo is seen with new rebrand logo Meta in this illustration taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
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Tuesday, March 14, 2023 at 2:00 pm